They're only taking money from accounts that are larger than the government insures, correct?
e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros?
Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots.
Why would you ever have uninsured money? Just split it between accounts??
As I understand it that's against the rules. Not saying it's not done but those who want to keep above board and declare all savings won't be saved that way. I'm not saying people keeping that much money an inflating currency in a savings account with hardly any interest aren't idiots but...e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros?
Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots.
Why would you ever have uninsured money? Just split it between accounts??
The Dutch government guarantees 100k for each banking license. It is allowed to split (but some banks are owned by companies with 1 license and 1 bank has numerous licenses).
I doubt they'll do the same thing in Nothern Europe. They'll just print themselves to oblivion.
